New Delhi, July 18 (IANS) The successful flight test of Vikram-1 marks a ‘historic milestone’ for India’s space ecosystem, ISRO Chairman Dr V. Narayanan said on Saturday, highlighting the rapid growth of the country’s private space sector and the increasing role of startups in driving the space economy.Speaking to IANS after the successful test, Dr Narayanan said the achievement demonstrated how India’s space reforms are creating new opportunities for innovation, employment and economic grow…
Latest Space Economy News & Updates
New Delhi, July 18 (IANS) India’s first privately developed orbital launch vehicle, Vikram‑1, successfully reaching its designated low Earth orbit proves the country’s emergence as a serious global player, Union MoS, Science & Technology, Earth Sciences Dr. Jitendra Singh said on Saturday.As per the statement from the Department of Space, it stands as a powerful vindication of Prime Minister Narendra Modi’s decision to open the country’s space sector to private participation, the ministe…
Auckland, July 11 (IANS) Prime Minister Narendra Modi said on Saturday that New Zealand’s space sector has played a significant role in the success of India’s lunar mission Chandrayaan-3.Addressing the diaspora in Auckland, PM Modi recalled how celebrations emerged among the Kiwi-Indian community after the successful landing of Chandrayaan-3 on moon’s South Pole.“India’s Chandrayaan-3, when it landed on the Moon’s South Pole, the whole of New Zealand was dancing that day. And that day, we al…
New Delhi, June 21 (IANS) India’s space economy is projected to grow five-fold from the current $8 billion to $40-45 billion over the next decade, driven by policy reforms, rising private sector participation and growing commercialisation of space technologies, an official fact-sheet said on Sunday.The fact-sheet highlighted that India currently accounts for about 2-3 per cent of the global space economy, with the country’s share targeted to rise to 8 per cent by 2030.The rapid growth is being s…
New Delhi, June 14 (IANS) Union Minister of State (Independent Charge) for Science & Technology and Department of Space, Dr Jitendra Singh, said on Sunday that India’s space economy is poised to grow from the current $8-9 billion to nearly $40-45 billion over the next decade, driven by policy reforms, growing private participation and a rapidly expanding innovation ecosystem. Addressing a press conference here, Jitendra Singh said the transformation of India’s space sector reflects a lar…
New Delhi, Feb 28 (IANS) India’s journey from the ‘Fragile Five’ economies in 2014 to emerging as the world’s fourth largest economy reflects a decisive shift in national confidence, capability, and direction, Union Minister of State, Dr. Jitendra Singh, said on Saturday.He further stated that India is now firmly on course to become the third largest economy in the near future and achieve the goal of Viksit Bharat by 2047.Delivering the P. Parameswaran Memorial Lecture in Thiruvananthapu…
New Delhi, Jan 29 (IANS) Space services are poised for rapid expansion through commercialisation and public-private partnerships, said the Economic Survey 2025-26 tabled in Parliament on Thursday by the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman.The Survey stated that the Indian space sector, valued at about $8.4 billion (around 2 per cent of the global space market), is projected to expand to $44 billion over the next decade. The growth is expected to be driven by laun…